Econ 311 - Market Experiments 1 2. Competitive Trading Institutions The double auction institution Early results Extreme earnings inequality Response to.
The Price System at Work Buyers and sellers operate with opposite motives: Buyers want low prices Sellers want high prices Both sides have to compromise.
Vernon Smith: An Experimental Study of Competitive Market Behavior Thanks to David Cooper @ Florida State for sharing his notes.
6.1 I. Advantages of Prices A. Prices are neutral because they do not favor the buyer or the seller. Prices are the result of competition Prices.
Notebook # 16 - Economics 6-2 The Price system at work.
